Yes. There are six exceptions that allow banks to exceed the maximum hold periods in the availability schedules. The exceptions are:
1. checks deposited to new accounts;
2. large deposits ($5,000 or more in checks in any one day);
3. redeposited checks;
4. deposits made by check to accounts that are repeatedly overdrawn;
5. deposits of checks for which the bank doubts collectibility; and
6. deposits made under certain emergency conditions.
In the case of exceptions, the regulation provides that banks may extend the availability schedule by a reasonable period of time. The bank may be able to extend the availability for a longer period of time, but it must be able to prove that the additional time is reasonable.
Kristal M. Cowger, Attorney at Law
Blado Kiger Bolan, Tacoma, Wash.
